Fintel reports that on October 6, 2023, Ladenburg Thalmann initiated coverage of NiSource (NYSE:NI) with a Buy recommendation.
Analyst Price Forecast Suggests 32.69% Upside
As of October 5, 2023, the average one-year price target for NiSource is 31.62. The forecasts range from a low of 30.30 to a high of $34.65. The average price target represents an increase of 32.69% from its latest reported closing price of 23.83.
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The projected annual revenue for NiSource is 5,779MM, a decrease of 1.22%. The projected annual non-GAAP EPS is 1.58.
NiSource Declares $0.25 Dividend
On August 7, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of October 31, 2023 will receive the payment on November 20, 2023. Previously, the company paid $0.25 per share.
At the current share price of $23.83 / share, the stock's dividend yield is 4.20%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.33%, the lowest has been 2.67%, and the highest has been 4.31%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 2.48 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.59. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1265 funds or institutions reporting positions in NiSource. This is a decrease of 39 owner(s) or 2.99% in the last quarter. Average portfolio weight of all funds dedicated to NI is 0.27%, an increase of 1.45%. Total shares owned by institutions increased in the last three months by 3.24% to 459,521K shares. 
The put/call ratio of NI is 3.41, indicating a bearish outlook.
What are Other Shareholders Doing?
Deutsche Bank Ag\ holds 19,181K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 19,657K shares, representing a decrease of 2.48%. The firm increased its portfolio allocation in NI by 646.63% over the last quarter.
Barclays holds 13,214K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 13,520K shares, representing a decrease of 2.32%. The firm increased its portfolio allocation in NI by 31.91% over the last quarter.
Jennison Associates holds 13,072K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 9,390K shares, representing an increase of 28.17%. The firm increased its portfolio allocation in NI by 21.16% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,839K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 12,737K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in NI by 9.03% over the last quarter.
Millennium Management holds 10,040K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 8,136K shares, representing an increase of 18.96%. The firm increased its portfolio allocation in NI by 3.80% over the last quarter.
NiSource Background Information
(This description is provided by the company.)
NiSource Inc. is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index and the Bloomberg Gender Equality Index and has been named by Forbes magazine among America's Best Large Employers since 2016.
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This story originally appeared on Fintel.
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